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that will improve their schools and education? once again, the teachers' unions say no. we await word from a judge in a key case on this very issue. >>> but first up, we'll look at the economy, stocks and the federal reserve. a quick note on the economy, a 2.7% gdp revision today. it looks okay on the outside. stronger housing investment, i like that. decent corporate profits, i like that a lot. there was's big business inventory bulge. that will -- consumer spending weaker than many expected growing just 1.4%. finally most importantly and difficult, business investment fell. equipment software fell, building structures fell, we've seen some lousy numbers on the durable goods and manufacture odds, it's a very bad sign that business is not in good shape. not in recession, but kind of this 1.5 to 2% thing that's driving me crazy. >>> let's turn to the fed a front-page "wall street journal" story suggests that maybe more fed stimulus may be coming. the question -- do we need it. here is lee hoskins. lee, welcome back. do we need more federal reserve stimulus? >> well, no, larry, we don't. how many ti
for education the federal government will tax the winnings at about a quarter. so they'll make a lot of money out of this. unfortunately in the interest of full disclosure, larry, i think think the winning tickets have about been bought here in dallas. right now i hate to tell you, i think i've got them. >> fess up, jay, how many did you buy? full disclosure? transparency. >> only five. but i may be here a little longer. >> if you win, you're not going to retire, are you? >> i'd never retire. a lot of people say this already, i'd probably be pretty tough to work with if i do win. >> now, let's break down the numbers on this powerball jackpot. they're still selling tickets at blistering rate, 130,000 per minute. let's assume the final prize tonight will be ds 600 million. that's just an assumption. if up choose the cash option, if you win and you choose the cash option, we'll calculate you'll keep $393 million. if you live in new york city, federal, state and city taxes will take you down to $223 million. so you keep 57%, you give uncle sam 43%, you still have the $223 million bucks. it's a pr
investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. yep. the longer you stay with us, the more you save. and when you switch from another company to us, we even reward you for the time you spent there. genius. yeah, genius. you guys must have your own loyalty program, right? well, we have something. show her, tom. huh? you should see november! oh, yeah? giving you more. now that's progressive. call or click today. >> as i reported in 2008, an investigation into a $20-million online poker scam was leading to a specific player who had an uncanny ability to win even while holding the worst hands. the most likely explanation seemed to be that someone had gotten access to an administrative or security account at absolute poker and ultimate bet that would have allowed them to see all of the cards in the game as they were being played. somebody with access to a server, a computer server that would give that information to them in real time? >> yes. >> so either a really good hacker or somebody
," welcome to cramerica. my job is not just to entertain you, but educate you. call me at 1-800-743-cnbc. we interrupt this broadcast to bring you actual news. with the averages hanging in there. dow, nasdaq climbing, you couldn't help but see some stocks are actually at last transcending the gravitational pull of washington, apple, google and amazon. just today gaining at the close of the market. look, i'm as aggravated as you are about the lack of progress over the fiscal cliff. is there progress? is there no progress? are the democrats giving? have the democrats given? the only thing given that i know is the tablet. that's what i want to spend a moment on while we bemoan the farce that is washington. one of the worst aspects of this era where we have to hang on every word of people who frankly aren't actually trying to make us any money, and if anything want to take it from us, is there are companies doing amazing things, so tonight in the interests of some companies that are doing great things that can make you money, i want to celebrate the products of three terrific companies as well a
. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> welcome back. take a look at netflix. the stock catching fire today after getting a deal for exclusive streaming rights to disney movies. the deal does not kick in until after 2016, but investors are loving it today. how much of a game changer is it for netflix? porter, your take on this. is this justified, this move in the stock? >> reid hastings, netflix ceo, is pulling himself back from the brink with this move, maria. it's absolutely a show stopper. >> okay. so why is it so important for netflix? >> well, they've pretty much exhausted the growth potential in the u.s. their growth is coming from other countries. right now they're operating, believe it or not, in 51 countries outside the u.s. they have about 30 million paying subscribers. they don't have enough content. the content that they've just acquired the rights to through disney is a real show stopper. it puts them miles ahead of the competition. a
teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> welcome back to "power lunch." brian schactman here at the markets desk looking at five below, about a $2 million market cap, the preteen and teen specially retailer. they reported earnings and the stock is up 15% here but it is a pretty fascinating earnings report. eps and revenue were pretty solid but guidance was actually for the most part below consensus. why is it so rocketing to the up side? adjusted operating margin, about triple expectations and comps were 50% better than expectations. those two metrics are pretty important. this was an ipo over the summer and it is about double from its initial public offering. back to you. >> thank you very much, brian. >>> well, president obama making his case for raising taxes on the wealthy during a tour at the toy factory in pennsylvania today. but what are the chances of passing his plan into the divided congress? representative adam schiff is a democrat from california and is a member of the house approp
in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> cnbc's jane wells joins us now with the latest. >> they say it is not about the money. federal mediate or has been hir. ships are backing up. companies like home depot say it is starting to impact their supply chains. here is the issue. it doesn't appear to be about the money. up to 11 weeks of days off. theion onwants fellow union members to fill in on those dates and management doesn't want to do that if those people aren't needed. the union is using technology which is decreasing the need for people. >> like computers. >> yes. >> this is one of your greatest moments. 11 weeks off and guaranteed security. did i get that right? >> yes, you did. but the bigger issue here they say is the guaranteed job security. they say we will feel it is guaranteed if you put language in the contract saying you will never outsource these jobs. management not willing to do that. >> i didn't know such a thing was still debated. that is incredible. >> many tha
. i'm not here to make friends. my job is not just to teach and entertain, but to educate. so call me. all right let's be honest. if you are like me, and you are thinking this whole kit and caboodle, it is getting real on exhausting. it's getting real on the market. one, it's very hard to pry off. and today's blah action again. nasdaq giving up 1.87%. fortunately we'll hear from a real banker. later in the show. heard about a weakened consumers today from not only than darden. a particular favorite to the "mad money" stf. stock pummeled and finished down. a stable operation. it yields an astounding 4.22%. scoop it up. but, may not be the protection. it doubles the tax on dividends. can't be in there saying -- darden. one of the biggest retail juggernauts. the gap. sales have become sloppy to surrender $3.57 or 10%. although that doesn't spell the death of retailers, we go off the charts tonight. sectors are really doing -- how are they doing? we just witnessed -- relentless pressure in the oil sector. the department doesn't believe going over the cliff will stifle energy command. toda
'm not here to make friends. my job is not just to teach and entertain, but to educate. so call me. all right let's be honest. if you are like me, and you are thinking this whole kit and caboodle, it is getting real on the market. it is very hard to pry off. hence today's action again. the dow is down. nasdaq giving up and paint drying. and we are go to hear from a banker later on in the show. we heard about a weakening consumer today from the owner of darden. which happens to be part of the "mad money" staff. finished down 8.9%. it yields 42%. but, that yield might not be the protection it used to be. that more than doubles the tax on dividends. we saw one of the biggest retail jugger nauts, the gap. sales have become sloppy to surrender $3.57 or 10%. although that doesn't spell the death of retailers, we go off the charts tonight. and we witnessed downward pressure in the oil sector. today is the first day when the group got any lift at all. so what do we do? is it game over for equities should i go home? no, no, no. let me first say absolutely not. we have to get either to a cliff resoluti
, the left will find little things about texas. they'll say terrible in education. nobody's health care is covered. >> listen, if we were terrible -- >> and health care. >> -- but why would all the businesses copt to -- >> that's what they'll say. there's all the problems with texas. it's a horrible place. and nobody's covered by health insurance. the other knock is that i guess a lot of the business development is -- i don't know, what do they say, you've got these grants you give to private corporations. cronyism capitalism? >> we are competitive. >> they point to something and say what is it, federal, state grants to companies. >> it's called competition. >> is it crony capitalism? >> in the real world that's how you compete, you compete for those businesses. listen rick scott in florida is a competitor, bobby jindal, susan martinez, they are all competing for those businesses. if you want to sit there -- i'll give you a good example. i think the martin o'malley, former -- or still -- former dn -- >> he's in virginia now, right? >> no. i think he's up in maryland. >> yeah, yeah, yeah
to cramer. i'm just trying to save you money. my job is not just to entertain you but educate and teach. call me at 1-800-743-cnbc. dow gaining four points, nasdaq slipped .06%. we can talk all we want about what's going to happen next week in terms of earnings, stocks. and we will. but this time our game plan begins oddly and strangely on a sunday. sunday when the treasury secretary of the united states of america will be on "meet the press addressing the fiscal cliff situation. as a student of secretary geithner who has studied every move i believe he will report we are going to avoid falling over the fiscal cliff and get deal. in part because the two sides aren't that far apart. they sound like they are but they may not be. both sides recognize that we will be in a recession very quickly, maybe even as soon as the second quarter. if they don't compromise. so listen to me. the tax hikes are so severe. [ audience boos ] >> the spending cuts, particularly the cuts to the military, are so draconian even some republicans who think a compromise is a total betrayal, they fear the economic c
with manufacturing that have left the u.s. not necessarily people but the education stops producing them. >> that's sad. how do we get that back? sbl well, it is a concerted effort to get them back. with this project that i've talked about where we will do a mac in the united states next year? i think this is a really good another step for us. the consumer electronics world was really never here. so it is not a matter of bringing it back, it is a matter of starting it here. >> good morning. thanks for joining us here. >> reporter: while steve jobs liked to avoid the spotlight, he also thrived on it. it was as if he was selling products that were pieces of his own soul. he was inventor, pitchman and new wave pid piper all in one. big boss coming through. big boss, people. look alive. >> reporter: tim cook is just a different guy. while he believes in the almighty product just as much. >> how are you not steve jobs? >> in many ways. one of the things he did for me that removed a gigantic burden that would have normally existed is he told me on a couple of occasions before he passed away to never qu
to educate him. and i am very passionate as many americans are about our second amendment rights, and so i was originally just trying to explain to him. i wasn't trying to be nasty. i was really trying to make him understand where this debate was coming from, and he backed me into a corner and so i came back with a musket. >> well, i think that musket thing was absolutely terrific. but i've got to ask you, i need some help here. i'm going on the piers morgan show tonight. we're going to talk about taxes and regulation spending. so i'm not going to tweet, carol. i'm actually going to be there signature across from him. what should i do? >> i think you'll be fine. piers kind of tends to go to the socialist side of things. he's from britain originally, and he doesn't understand the capitalist system all the time. so i think if you and i just keep educating him, keep explaining to him things like the second amendment, like the free enterprise system, like capitalism, i think eventually it will get through to him. >> how is free enterprise doing? how is free market capitalism doing? i'm kind of
. welcome to "mad money" welcome to cramerica. my job is not just to educate you but to entertain me. call me at cnbc. believe it or not, i actually used to be a mountain climber. drove my mother crazy but i loved it. always had the best gear. climb up from whatever abyss faced me. which is why i'm donning the finest mountain-climbing attire i can get my hand on because i now believe that we may very well go over the fiscal cliff come january and i want to be ready to climb back out with the right stock after it happens. you can't come from a given day like today, dow 107 points, hey, happy days are here again, right? this is a day where my equipment felt a little -- felt a little superfluous because we had all sorts of happy talk for a bunch of people in washington about how compromise was within reach. however, i think it's been increasingly apparent that we actually may not get a deal in time for the january deadline. something warren buffett pointed out. who am i to disagree. you don't need to change your philosophy just because we cliffed you. long term it might not matter. not all of
earn the rest of my life. you want me to get an education so off tie on my income for the rest of my life on earth. >> then there's the $16 trillion question. >> then the revenues. there's a lot of questions. >> here you are having been in this business for as long as you have. you're talking to people in real estate all the time. what are you seeing in terms of what they're doing now? does it make sense if you're sitting on something that you want to sell, you want to sell a home, a building, stocks, should you do it by year end given your cap gains tax is about to go higher? >> yes. if you have a long-term gain, you should definitely take it. in january, you'll be able to buy it back. the rules don't apply to gains. you can buy back the stocks take the gain right now and put it in your pocket and buy the stock back a day later if you want. it's likely that -- and i would think that our base case is cap gains go from 15 to 25 and add the 3.8% health care tax. i don't think the market will go up 14%. i do wonder where this tax selling is going to come in. have people done it? you saw
to go to a better school and get a better education, but i guess that's the court decision for now. kayla, thank you very much for helping out this evening. >>> up next on "kudlow" could the dollar bill be on its way out? congress considering replacing the green back with the $1 coin. why stop there? why not the return of gold coins that are legal tender? we're going to discuss it all next up. >>> welcome back to "the kudlow report." in this half however, well, call it a fiscal cliff economic indicator. year end contract wheeling and dealing has major league baseball in a crash cliff frenzy. and just like baseball, taxes really matter for everything. to avoid next year's expected tax hike, companies are changing the timing of dividends and deals and capital gains and private equity partnerships and a whole lot more all to beat the tax man. >>> congress is tossing around the idea of dropping out of the paper dollar bill for hard coins. the government report finds the move could save taxpayers nearly $4.5 billion over 40 years. on the flip side of that coin is now the time for a retu
in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> welcome back. the clash over ethanol accelerating between aaa and renewables fuel industry. aaa is calling on the government to stop forcing gas stations to send a blend of gas called e-15, 15% ethanol and 85% gasoline, saying it could damage car engines as well as void your warranty. >> when i was driving in the minute west this summer i saw e-15 stations available in kansas and nebraska. it prompted renewable fuels association to fire back at aaa insinuating the auto club has become a mouthpiece for the oil industry. let's sort this out. president and ceo of aaa, and president of renewable fuel association. what specifically does e-15 do to harm vehicles? what is it you're suggesting here? >> well, first of all, we've done some research that shows that 95% of the american motorists don't know what e-15 is and don't actually know whether they should be putting it in the tank of their car. and the auto manufacturers have advised us that 95% of the vehicles on the roads today in t
of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> the early dividends announced by some companies to avoid higher tax rates are paying off for the ceos and their investors. take larry ellison. he's the ceo of oracle. they are paying dividends three quarters ahead. that means a payday for mr. ellison of $198 million. his shareholders will also do very well and i wish them all happy holidays to beat the tax man. now, president obama wants higher revenues and higher tax rates but you know it often doesn't work out that way. in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give yo
research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. ♪ ♪ >>> at times, i know it can feel like the entire world is stacked against you in this game. >> the house of pain. >> europe's in a nasty recession, united states could be on the verge, well, of returning to the great recession because our leaders can't rise above and agree on anything. and china's still struggling to get their act together and beat their own slowdown. although the communists seem to be doing a pretty good job of breathing new life into their economy. look at that market last night. when you take a global view, all right, things stagnant. but there are still some bright spots out there. and believe it or not, one of the brightest is mexico. that's right. mexico has been getting its act together, industrial and automobile production south of the border are on the rise. and they're growing gdp faster than we are in the united states, much faster. just two days ag
the american people to go along with and probably needs to be more of an education process to say look at the numbers, here are the numbers. we haven't heard that. >> i think that's right. remember, we do elect representatives of the people. they should understand it. when you are running at a trillion dollar plus deficit every year and have $16 trillion worth of debt, it is 100% of gdp, that's a signal we have to do something. so i wouldn't expect all the american people that haven't had much exposure to this stuff to be fully cognizant. i hope the representatives are. >> but do you have people that say there is not a problem here. some -- like paul krugman who is a nobel prize-winning economist knows more than people on the street were doing this, he says you shouldn't be doing this at this point. >> i think that paul krugman is -- remarkable record of being wrong a lot of times. and -- i know that he has been -- nobel laureate and i won't be. but i think there's -- any serious person recognizes there is a problem here and we have to do something about it. >> how come we are still no
that storm. it actually created jobs. and when it comes to our schools, we're not investing in education so that tomorrow we could be innovative to create new innovative platforms that could weather the next one if there is to be one. so we could learn from what's happening now to protect us in the future and that is education and investing in science, technology, engineering, mathematics and schools. >> there's speculation that you'll be doing a tv show to find the next steve jobs or the next bill gates for an example. you can really find the bill gates through a television program? >> you can find the next bill gates through a competition. whether the competition happens online, in a fair, on tv is not important. but the competition is important. the challenge and the ob kestac and tools is important. >> you talk a lot about fashion and technology and incorporating the two together and there seems like there's a lot of focus on that. >> like that scarf you have, it's nice. but other than keeping your neck warm it doesn't do anything else for you. and in this day and age, it can do a lot m
into education, into science, into infrastructure as well and he'll be talking about the infrastructure initiatives including more must be for small to medium size businesses, more money for power stations as well. but it really looks like he's got very little room for maneuver. the opposition, he'll get that and say this is your fault, these are your policies. mr. osbourne will turn around and say look what's turning around you. look what's going on in the financial sector. look what's going on in the eurozone as well where unemployment is actually on the surface much worse than it is in the united kingdom. so it's going to be the usual ding dong battle of theatre. but i doubt we'll see many new initiatives that haven't been leaked already, ross. >> yeah, you only have to read the papers today and everything seems to be in there. i think you've done a very good two and a half-minute analysis of everything we might get. well-done. we'll come back to you later. get a cup of coffee, stay warm. julian joins us with his own thoughts. steve got into all the details. he's laid it all out for
shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ female announcer ] introducing u the latest coffee machine from nespresso. modular. intuitive. combines espresso and fresh milk. the new u. nespresso. what else? available at these fine retailers. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. [ male announcer ] break from the holiday stress. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> avoiding the cliff or g
with this move. maybe his views leading him to democrat support have to do with education or the supreme court or gun control or foreign policy. not everybody is a single issue voter. >> no. not everybody is and, you know, give him the benefit of the doubt. let's give him the benefit of the doubt. take a step back. the issue is whether it's warren buffet worth 50 million pointing down at us and saying, hum. maybe the threshold should be 500,000 instead of 250,000. i don't know about you. but when i see the automatic pilot, and thank god it is for the business community to have accountants, mr. buffet doesn't do his own taxes. i doubt mr. senegal does. they all know this and they operate in a world where they preach to us what they believe is a middle class friendly gospel. but they don't really believe it. >> rick, this argument presumes that mr. senegal voted for the special dividend this year based on his own pocketbook. there are still millions of shareholders -- >> i'm not saying that at all. i'm saying that if you really believe, listen, if it was me, if it was me, i would take that money
a big difference. so our people are looking at it, we're helping them, we're educating them, but i think decisions are going to be held on how we're going to handle it until after all the rules have been released. >> it would make a big difference because you have so many seasonal workers for 90 days versus the year? >> yeah, just overall cost. as you look at the turnover and all the rest of it, it's going to make some difference to us. there's a 30-hour limit, but there's been some discussion as to whether or not that could be 35. 35 would clearly be better. so i mean, there's just a lot of these rules that are yet to be written and i think they're going to have a big impact on how people are going to approach it. >> so, patrick, let me try to take this from a difference direction from a democratic perspective. i'm not trying to be difficult. but there are two ways to look at the mandate that goes with the employees. one s a burden on business. the other is it's an opportunity for business to attract and keep employees, particularly in seasonal jobs that are difficult to fill. is there
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in education and infrastructure, things that are good for the long-term growth prospects of this economy. we're going to look at the overall mix through that basic prism. >> i want to ask one final question about leadership. the center piece of your stance on the negotiations is to raise taxes on the wealthy. >> that's not the center piece of our plan. the center piece is a balanced mix of spending reforms and tax reforms that preserve the ability for us to invest in things that are absolutely essential to our ability to grow in the future. >> but so far, when it comes to raising taxes on the wealthy, one thing we know about that from all the polls is it's very popular. it's not something in which you're expending political capital to make that happen. tell me again where the president is exercising leadership -- >> i wouldn't say it's ever popular. look at the history of american politics the last 30 years or the last 40 years. never popular to do what this president did, which is to try to explain why it's important for there ato be a modest amoun of tax increases on wealthy americans. we'
, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> take a look at shares of ebay. they're up almost 2% today. but this is also an eight-year high for the stock. over a ten-year period, that stock is up better than 204%. hopefully it was in your portfolio. >>> one of the most buzzed about start-ups is belly. it is a digital loyalty program that helps businesses reward customers each time they make a purchase. either by mobile app scans or physical punch cards. in a "power lunch" exclusive, joining us today, belly's ceos join us. they sunk $10 million into belly earlier this year. gentlemen, welcome. nice to have you h
at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> investors are being pushed to the sidelines, temporarily. apple shares hit, watch the stock down about 2%. casino stocks also under pressure on worries that the chinese government is increasing scrutiny over some of the macao casinos. oracle declared an accelerated second, third and fourth quarter dividend totaling 18 cents per share of outstanding common stock. this announcement comes ahead of a folks dividend tax increase next year. back to you. >> seem marks thank you. power run down time. joining us, cnbc's kayla tausche, john carney. start with a new study finding high-freque
? >> absolutely. they want to build a reputation to find more patients to get educated and to learn about how to work using mobile devices with patients online. >> why would they do this for free? it's like a free sample. they basically help people, how they provide their service when they come to see them in the real world. so when someone has a question, they can squ a question and get an answer that can see them in the real world. >> i have a couple of thoughts that jump up on this about potential problems. first would be trying to diagnose someone over a mobile device. it seems like they could get in big trouble if they improperly diagnose them and second, every time i go to a doctor's office, they seem more than busy. it's hard as a regular patient to get squeezed into the time. so who are these doctors who have excess time on their hands. >> it's about education. it's about replacing all the information sites or messageboards that don't have doctors in them. they connect with the right doctors. we have -- >> these are u.s. licensed physicians in good standing. we actually check that the
advantage of their well educated labor forces and their potential in terms of innovation and global reach. they could greatly benefit first maintaining a growth friendly business environment, and they could greatly benefit from reinventing their production structure, upgrading quality, and redistricting their exports towards strongly growing markets. innovation is crucial in this respect. this means for a start that where profit margins are restored, they should serve to fund research and development to higher extent. but innovation potential is not always translated into actual marketable employment creating and growth sustaining innovation. what is key in translating potential is the regime of economic incentives. and it is indeed this system of economic incentives that the current waiver of structural reforms in the euro area is addressing. central challenge is to set conditions so that the skills of the labor force especially of our young people can be profitably employed in competitive firms or in the new enterprises that will go on to set up. in this vain, removing rigidity clearly
. >> i think you see two sorts of measures. big structural reforms to education and welfare, but also yesterday changes to our tax regime. so we now have one of the lowest corporation tax rates of any major economy in the world. we've just cut it so that it will be 21%, much lower than our competitors. and we've also greatly increased the allowances for small and medium sized firms so they can invest and expand. so where we've been able to help businesses, we've absolutely done that, and we've had very positive reaction from the business community. >> how concerned are you about the aaa rating and the risk that we continue to drift, still need to cut more and boost growth? >> well, we've got to go on commanding the confidence of the world that we can deal with our debts. that is reflected in the very, very low interest rates that we get at the moment for gilts. and of course that's the test, how much are investors will to go pay for our money f debt. and it scheme that failed to solve the problem and funding for lending hasn't delivered yet. we thought we would get more details about
in motion currency trading tomorrow 5:30 p.m. eastern. one more sleep. if you want more education about currencies, go to currency class at moneyinmotion.cnbc.com. >>> still to come, republican senator rand paul of kentucky. he will not budge on the northwest tax pledge. we'll find out what he is willing to compromise on to rise above. >>> house speaker boehner and other leadership members meeting with treasury secretary geithner this morning. boehner expected to hold a news conference after about 11:30 eastern. within the next 35, 40 minutes. we will bring that to you live on cnbc. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. so anyway, i've been to a lot of places. you know, i've helped alot of people save a lot of money. but today...( sfx: loud noise of metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) awhat strange place. geico®. fifteen minutes could save you fifteen perce
currency trading on fridays 5:30 eastern and if you want more education about currencies, go to currency class@money motion.cnbc.com. >>> a bigger than expected slide in the past week down by 2.4 million barrels. crude supplies fell by 2.4 million barrels. 7.9 million barrels was the rise in gasoline inventories. then we are also looking at fuel supplies that were up by 3 million barrels. up by 3 million barrels. we are looking right now at a sell-off in the oil market. we're still holding above the $88 mark for wti crude futures. we're also looking at lower prices for gasoline because of that huge build we saw and higher prices for heating oil. a proxy for diesel fuel and reflecting the distillate fuel supply number. bigger builds than were anticipated for gasoline and a bigger decline than was expected for crude supplies. send it back to you. >> thank you so much. when we come back, deal making in a post-fiscal cliff world. faber has an exclusive interview with the ceo of investment bank moelis and company. more in just a moment. >> announcer: the holiday season is here and that means
more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> house republican leaders making a counteroffer that was rejected by the white house yesterday. the proposal calls for $800 billion in increased tax revenue over the next decade which is half of what the president proposed in his plan. it does not include higher tax rates for the wealthy which is the central issue dividing the parties. we're joined by majority whip kevin mccarthy joining us from the hill. good to have you. good morning. >> thanks for having me. >> a lot has been made over whether or not you're trying to sell this as a bowles endorsed plan. are you? >> we're not trying to sell bowles but he talked about this frame work before the super
. and his point is there needs to be an education process -- >> i don't pre-judge the choices people make, right? you can make the decision that you want universal health care. >> you need to know -- >> here's what it looks like, what it costs, and obviously the discussion we never have is the opportunity cost, as well. and something that economics -- >> and i asked steny hoyer that question for a reason, you know how the house works. and rick, i'll say this to you, you can tell those guys in the house until you're blue in the face that i won the election and i made it about higher taxes and that still doesn't mean they have to -- you need those guys to pass the law, right? >> that's right. that's right. >> they got elected too. >> the saddest part. the saddest part is that people as smart as the people around that table up there would think that they're going to get the answer of what's truly best for the long-term health of this country by polling. that's why we're not really a democracy -- democratic republic, we're a republic! >> once again, if you -- >> do you want to get hit on the
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